Recently, Longan (Guangzhou) Law Firm in Beijing was selected as a candidate law firm by China CITIC Financial Asset Management Co., Ltd. Guangdong Branch due to its strong professional expertise and extensive service experience in financial law and non-performing asset disposal. This selection marks another significant recognition of Longan Guangzhou’s legal services capabilities in financial services and asset management, further strengthening its leading position in the non-performing asset legal services market in the Greater Bay Area and across the country.

The team involved in this selection is led by Liang Dong, a senior partner at Longan Guangzhou and head of the Non-Performing Assets Department. The team members include Huang Peng, Chen Li, and Li Huatao, among others. Liang Dong has nearly 15 years of experience working in state-owned financial asset management companies. He is skilled in non-performing asset management, corporate restructuring, and bankruptcy proceedings. The team has led projects with a total investment of over 40 billion yuan. The other members of the team also have rich practical experience and outstanding achievements in finance, real estate, corporate mergers and acquisitions, bankruptcy liquidation, and urban renewal.

Currently, this team has been included in the service networks and professional brands of several well-known financial institutions, including CITIC Asset, CITIC Property, Yuecai Asset, China Merchants Ping An Asset, Guangzhou Asset, Zhejiang Merchant Asset, China Resources Asset, China Construction Bank, Ping An Bank, and Guangzhou Bank. This has created a strong service network and professional brand in the fields of non-performing assets and financial legal services.

This successful inclusion in China CITIC Financial Asset Management Co., Ltd. Guangdong Branch will further expand the firm’s service coverage within the state-owned AMC system, enhancing its practical capabilities and project opportunities in handling complex financial disputes, restructuring distressed enterprises, and revitalizing assets. In the future, Longan Guangzhou will continue to rely on its professional team and extensive experience to provide comprehensive and high-quality legal support to China CITIC financial assets and various financial institutions. This will help prevent financial risks and support the high-quality development of the real economy, contributing to the construction of the Greater Bay Area.

Introduction to China CITIC Financial Asset Management Co., Ltd.

China CITIC Financial Asset Management Co., Ltd. (Stock Code: 2799) was formerly known as China Huarong Asset Management Company. It was established on November 1, 1999, as one of the four state-owned financial asset management companies established to address the Asian financial crisis, mitigate financial risks, and promote the reform of state-owned banks and the recovery of state-owned enterprises. On September 28, 2012, the company was restructured into a joint-stock company. On October 30, 2015, it was listed on the main board of the Hong Kong Stock Exchange. In March 2022, its party committee was transferred under the management of China CITIC Group Co., Ltd. In January 2024, the company was renamed China CITIC Financial Asset Management Co., Ltd. Currently, the company’s major shareholders include China CITIC Group Co., Ltd., the Ministry of Finance, China PBoR Fund Co., Ltd., and China Life Insurance (Group) Company.

The company’s main business includes non-performing asset management and investment activities. Non-performing asset management is the core business of the company, covering four main areas: “disposal of problematic assets, revitalization of problematic projects, restructuring of problematic enterprises, and assistance to distressed institutions.” As of June 2025, the company’s total assets were 10109.33 billion yuan. In the first half of 2025, the company achieved total revenue of 402.21 billion yuan and net profit of 61.68 billion yuan. Currently, the company has 33 branches, with its service network covering 30 provinces, autonomous regions, and municipalities directly under the Central Government, as well as Hong Kong and Macao Special Administrative Regions. It also has subsidiaries such as Rongde Company, Industrial Company, International Company, and Huitong Asset.

Looking ahead, China CITIC Financial Assets will focus on its role as a financial asset management company, with the mission of “implementing national strategies, serving the real economy, and mitigating financial risks.” Its vision is to “focus on non-performing assets and become a top-tier financial asset management company.” It will follow the overall strategy of “strengthening foundations, progressing steadily, and improving quality.” By serving the real economy, preventing financial risks, and deepening reforms and transformations, it will strive to create a new era of high-quality development.

Introduction to the Lawyer

Lawyer Liang Dong

Lawyer Liang Dong is a senior partner at Longan Guangzhou, head of the Non-Performing Assets Department, and deputy director of the Greater Bay Area Enforcement Law Research Center. He is also a member of the Merger and Acquisition Committee of the Guangzhou Lawyers Association. He has worked at CITIC Asset Guangdong Branch for nearly 15 years, serving as a business director or company lawyer. Lawyer Liang Dong has extensive experience in non-performing assets, real estate, investment and financing, corporate mergers and acquisitions, bankruptcy proceedings, and liquidation. As of May 2025, through litigation and non-litigation methods, he has led projects with a total investment of 409.55 billion yuan.

Examples of his projects include the bankruptcy proceedings of 34 companies of Jiayue Group (total investment of 36.65 billion yuan), the merger and acquisition project with Guangdong International Trust and Investment Company (with a total investment of 551 billion yuan through 98 billion yuan), and the Guangzhou Longjin Garden project (liquidation of a unfinished building). He has also led enforcement and collection projects for Yuetai World Group and Zhanjiang Dingsheng Group.

Lawyer Huang Peng

Lawyer Huang Peng is a member of the Financial Law Committee of the Guangzhou Lawyers Association. He is skilled in non-performing assets, corporate legal matters, bankruptcy proceedings, urban renewal, and non-litigation due diligence. He has participated in several non-performing asset projects, including 112 assets of Guangdong Food and Vegetables Center Wholesale Co., Ltd. of CITIC Asset Guangdong Branch, 319 assets of Huizhou Township Enterprises Joint Company of CITIC Property Guangdong Branch, 121 assets of Huizhou East Industrial Development Company of Yuecai Asset, and 2 assets of Huiyang Property Development (Group) Company. The total value of debts and principal involved in these transactions is approximately 30 billion yuan.

Examples of his major projects include the debt collection projects for CITIC Fusheng Phase I, II, and III (36 billion yuan), the debt collection project for CITIC Yuetai Group (24 billion yuan), the Guangzhou Longjin Garden project (liquidation of a unfinished building), and the debt collection projects for Guangzhou Asset Baodan and Canbang (4 billion yuan).

Lawyer Chen Li

Lawyer Chen Li graduated from China University of Political Science and Law. She is skilled in non-litigation legal matters, including due diligence, corporate mergers and acquisitions, non-performing assets, and bankruptcy proceedings. She has worked at the Shenzhen Court for many years and has extensive judicial experience, handling numerous cases involving banks and asset management institutions.

Examples of her major projects include the merger and acquisition project for Zhuhai Juxinghui Commercial Plaza (17 billion yuan), the due diligence project for Guangzhou Guanhua Real Estate bankruptcy proceedings (15 billion yuan), the merger and acquisition project for Guangzhou Guancheng Building, the merger and acquisition project for Zhongxin Smart Park, and the merger and acquisition project for Huadu Yihua Villa.

Lawyer Li Huatao

Lawyer Li Huatao graduated from South China Normal University. She is skilled in handling various civil and commercial cases, mainly in real estate, finance, non-performing assets, and asset auctions. She has maintained close relationships with several real estate companies, financial institutions, and guarantee companies. She has provided legal services to CITIC Asset, Guangzhou Asset, China Resources Asset, Zhejiang Merchant Asset, Ningbo Asset, China Merchants Ping An Asset, Lixun Real Estate, Provincial Institute of Construction Science, and Industrial and Commercial Bank of China.

Examples of her major projects include the debt collection project for CITIC Shengke, the debt collection project for CITIC Fusheng Phase I (18 billion yuan), the bankruptcy proceedings for Taihu Real Estate (16 billion yuan), the acquisition project for Beijin Hydropower Station (4.8 billion yuan), and the contract dispute case involving Suicheng Company and Wu Qiyong (1.3 billion yuan).